Payoneer Pushes Development Effort – Digital Transactions
Payoneer Inc. is continuing its software-development push with the opening of a new developer hub in India this week. In June, processor Nuvei Corp. said it would acquire Payoneer in a $2.75 billion deal that is expected to close mid-2027.
New York City-based Payoneer says the hub, in Gurugram near New Delhi, will aid its technology development and business operations, including its engineering, product, data, artificial intelligence, and compliance technologies. It also will have a role in workforce management, its commercial activities, and operational teams, Payoneer says. It also has hubs in Israel and Madrid with engineering teams also in China and its U.S. offices, a Payoneer spokesperson says.
“As we work towards becoming an AI-native company, the work happening in Gurugram will directly shape our global platform. This hub is where we’re building key capabilities for our enterprise marketplace clients, financial services and workforce management, and expanding the next generation of our core capabilities,” Oren Ryngler, Payoneer chief product and technology officer, says in a statement.
Payoneer’s product set includes the ability to pay independent contractors across borders, enabling workforce payments, and managing currencies for global marketplaces. This international payment expertise is a significant factor in Nuvei’s plan to acquire Payoneer.
Adding Payoneer will help Montreal-based Nuvei offer more services to businesses so they can better accept payments, send funds, issue cards, manage treasury and foreign exchange needs, and access embedded financial services, Nuvei says.
Payoneer, which was founded in 2005, also will boost Nuvei’s cross-border payments services, Nuvei says. As commerce becomes more complex, businesses need services that address the full transaction flow, not just parts of it, Nuvei says.
